How Much Do Creator Platforms Understand Creators and the Product/Market Fit?

In the whirlwind of the creator economy, where once-small, creators now drive a booming industry, there's a surge in startups claiming to empower them. However, the rapid growth reveals a darker side – not every platform is crafted with creators in mind.

In this article I delve into the challenges creators face amidst the clutter and the pressing need for transparency.

The Creator Boom:

Ten years ago, monetizing YouTube content was met with skepticism; today, not just YT but Facebook , Instagram , Twitch , Snap Inc. are all defining the creator economy, marking creators as the fastest-growing small business segment. With 50 million self-proclaimed "creators" and more kids aspiring to be YouTube stars than astronauts, the industry is bustling.

The gold rush attracts startups aiming to cash in on this surge, but not all have creators' best interests at heart. The "Creator Economy" buzzword has taken everyone by storm but not everyone has put in the necessary hardwork to understand this industry. There is not enough research done on understanding the creator's content, the social media platform algorithms, Monetization or even the growing trends done, before one proclaims themselves as "Creator focused".

There were 8 creator economy startups that sunset in india in 2023, and when i dug deeper, the market fit was not there.

Predatory Platforms and Lack of Transparency ??

As the market expands, a troubling trend emerges – not all creator-focused startups prioritize creators. Most just pick and choose the growing creators and want a share of the pie that the creator has been baking for years on his/her own.

Predatory practices and lack of transparency loom large. Sometimes, a creator is left in the lurch of trying to find the right growth tools, which were promised but are non-existent.

The vicious circle of onboarding creators promising them growth but not able to grow them coz they are too many to manager - is a story I have heard too often now.

If an all-in-one platform folds, creators are left in the lurch, questioning their financial future. Infact, Youtube in India, has gone ahead and put a strict check on the MCN accounts, coz a lot of creators had asked for support to get out Youtube channel agreements. Major tech acquisitions add another layer of uncertainty. The venture capitalists' influx raises concerns about exploitative terms and conditions.

Unpopular Opinion - 'A Platform is Not Your Friend' ???

In the creator economy labyrinth, creators must tread carefully, diversify income streams, and not blindly trust every other platform. Startups should empathize, realizing the moral and financial responsibility they bear when creators entrust them with their businesses.

Acquisitions in the creator space, like Spotify 's purchase of Anchor, induce panic among creators. But more importantly - Getting caught in 5 year long contracts with no growth in sight have made Creators think twice even before testing the waters.

Advice for Creators - Have Unwavering belief in Oneself! The platforms need creators as much as the creator needs them. Stay true to your content and your community will help you grow.

Safeguarding Creator Trust : A Few Platforms Shine On!

Creators need a safety net in the unpredictable world of creator startups. While some platforms promise to be a "one-stop-shop," creators face potential doom if these startups fail or worse - If they have been lying. Asking the tough questions becomes crucial.

There are new platforms like Clara For Creators , FYPM App , Canopy that are acting like Glassdoor for creators, uplifting the creators' interests. Fourthwall stands out with a backup plan, setting aside emergency funds and pledging to make its platform open source in case of failure.

In a market flooded with opportunities, creators and startups alike must navigate with caution, understanding the evolving dynamics and ensuring that the creator economy remains a realm where creators thrive rather than just survive.